Key facts
- NIP Group acquired over 247 million shares for its third batch of Bitcoin miners.
- The company's total mining capacity is now approximately 13.85 EH/s.
- NIP Group anticipates mining about 195 Bitcoin per month.
- CEO Hicham Chahine indicated a potential shift to AI computing if economics favor it.
- NIP Group's stock has fallen 40.7% since the Bitcoin acquisition announcement.
NIP Group, the company behind the esports team Ninjas in Pyjamas, has acquired a third batch of Bitcoin miners, exchanging over 247 million Class A ordinary shares for the hardware. CEO Hicham Chahine stated the move is a bet on Bitcoin mining during a market "cooling" period. The company's total mining capacity now stands at approximately 13.85 EH/s, which Chahine estimates will yield around 195 Bitcoin per month, or $2.8 million at current prices. He also noted that the facilities could be repurposed for artificial intelligence computing if the economics prove more favorable.